智谱正式披露招股书：2024年营收3.12亿元、净亏损29.58亿元、毛利率56.3%

Core Insights - The company, Zhipu, officially disclosed its prospectus, revealing projected revenues of 312 million yuan and a net loss of 2.958 billion yuan for 2024, with a gross margin of 56.3% [1] Financial Performance - Revenue for the years 2022, 2023, 2024, and the first half of 2025 is reported as 57.4 million yuan, 124.5 million yuan, 312.4 million yuan, and 190.9 million yuan respectively [1] - Net losses for the same periods are 143 million yuan, 788 million yuan, 2.958 billion yuan, and 2.358 billion yuan [1] - Gross margins for these years are 54.6%, 64.6%, 56.3%, and 50% respectively [1] Revenue Sources - The company's revenue primarily comes from large model service income, with localized deployment accounting for 84.8% of total revenue and cloud deployment for 15.2% in the first half of 2025 [1] - Starting in 2024, revenue from localized deployment services will be generated from overseas clients, mainly from Southeast Asia [1] - In the first half of 2025, the share of localized deployment revenue from mainland China is 88.4%, while Southeast Asia contributes 11.1% [1] R&D Expenses - The company paid third-party computing service providers for R&D activities, with expenses of 14.6 million yuan, 311.7 million yuan, 1.5528 billion yuan, and 1.1451 billion yuan for the years 2022, 2023, 2024, and the first half of 2025 respectively [1]